Cyberwrite, a cyber insurance technology firm, and Markel Insurance, the insurance operations within Markel Group, have expanded their partnership to enhance underwriting capabilities, broker enablement, and cyber risk modelling across Europe.
Markel Europe has been leveraging Cyberwrite’s AI-driven technology to help underwriters assess and model exposures more effectively, and to communicate insights with underwriters, brokers, and clients.
The integration delivers predictive cyber risk analytics for businesses globally, enabling data-driven underwriting within seconds, reducing loss ratios, and supporting next-generation cyber catastrophe modelling.
Nir Perry, CEO and Founder of Cyberwrite, said, “Cyberwrite is proud to be a Markel technology provider. Markel has established itself as a forward-thinking specialty insurer that prioritizes data-driven underwriting precision.
“This expanded partnership demonstrates how our patented AI-driven cyber insurance underwriting technology specifically addresses the gaps that have historically complicated cyber insurance underwriting and modeling. Together, we’re enabling both underwriters and brokers to quantify the economic impact and probability of a cyber claim with unprecedented granularity and enable lower loss ratios by identifying high-risk businesses before they suffer a breach.”
Cyberwrite’s patented quantitative AI technology transforms complex cyber risk data into actionable insights, enabling insurance professionals to clearly communicate the likelihood and potential economic impact of cyber incidents within seconds. The platform also offers contextual benchmarking against industry peers and supports the use of data in Cyberwrite’s next-generation catastrophe modelling solution.
In a constantly evolving threat landscape, many insurers struggle with limited or inconsistent datasets for cyber risk modelling. Cyberwrite’s real-time data collection covers over 99.97% of businesses globally, delivering risk reports for virtually any organisation at the time of underwriting in eight languages.
Frederik Wulff, CEO of Markel Europe, said, “Cyberwrite’s platform has transformed how we evaluate cyber risk across diverse markets and industries for small and mid-size businesses.
“Our underwriters can now quantify factors that were previously difficult to measure in real-time for any business in local language, enabling brokers to easily explain cyber risks, and giving clients a clearer picture of their specific cyber risks so they know how much cyber coverage to buy, and how to reduce the risk of a breach. The approach of collecting data on each risk and quantifying it enables ground-up catastrophe modeling abilities that translate into improved model certainty.”
